trending Market Intelligence /marketintelligence/en/news-insights/trending/n_penO06q5A2wvjy_qRfLg2 content esgSubNav
In This List

Verisk to acquire cost market intelligence provider for energy sector

Blog

Fintech Intelligence Digital Newsletter: May 2021

Street Talk – Episode 76: Record pace of fintech M&A, funding in Q1'21 has legs

Fintech Intelligence Digital Newsletter: April 2021

Podcast

Street Talk | Episode 76: Record pace of fintech M&A, funding in Q1'21 has legs


Verisk to acquire cost market intelligence provider for energy sector

Verisk Analytics Inc. has agreed to acquire Boston-based PowerAdvocate, which provides market, cost intelligence and supply chain solutions for the energy sector.

Verisk is paying $200 million in cash, funded through existing bank facilities, and an earnout of up to $80 million.

PowerAdvocate's 2017 revenue to expected to be about $36 million and is expected to grow at a much higher rate than Verisk's historical average organic annual growth rate of 7% to 8%, according to Verisk. Estimated 2017 EBITDA for PowerAdvocate is expected to be about $11 million. Additionally, Verisk expects the deal to generate an "attractive" return in excess of its cost of capital.

The deal is expected to close in the fourth quarter.